Thursday, July 29, 2010

This post was inspired when I was asked recently for a quote for a new book from Andy Lopata on when to leave a networking group.

There are times when you move on in business and different networking groups become more appropriate. If you are networking as part of an overall plan then you will be able to work out when to move on. My experience is that more people leave for the wrong reasons than the right reasons. Many people leave groups because they never really worked out why they should be there in the first place!

Then there are the people who do it for a year and stop because they think it isn’t working. The great shame is that they are usually at the point where their investment is about to reap rewards. They have become known, liked, rated and trusted. Instead of strengthening the relationships they have built they move on to start the whole process again with new people.

Most weeks I will be at an event and someone will ask where X or Y is because they have something for them. If I say they have left the group they almost always ask for a recommendation to somebody else even if I offer to pass their message on.

Thursday, July 22, 2010

After a really good networking meeting you will often see people still engrossed in conversations. Many of them will have their diaries to hand arranging meetings. It is this follow up activity in between networking meetings that really make the difference. If you are always rushing off right on time you might be missing out.

We noticed this happening after our NRG group meetings so we now set aside time in the meetings so everyone can be engaged in this activity. Next time you put a networking meeting in your diary try and leave some space beyond the formal end so you don't have to rush off.

Tuesday, July 13, 2010

Andy Lopata asked me recently to write an article on the mistakes that people make in business networking. This article is now published in Andy's newsletter at Fresh Business Thinking. As I researched the topic with my network and reflected on my experiences I realised there was one BIG mistake.

Business people often turn to networking at different times. Start ups will often network like crazy early on and established businesses will often start when traditional routes to market dry up. The thing they very often have in common is the idea that networking is the answer to their problem. This first and BIG mistake that many people make is they dive headlong into the activity of networking with a complete misunderstanding of what networking really is.

This activity often involves looking for opportunities to ‘network’ with lots of people. They attend group meetings (once) swapping business cards with everyone they can, broadcasting their message, chasing immediate transactions and moving on. They join online networks, put together a profile and broadcast some more. After a while this doesn’t work and many conclude that networking doesn’t work.

Some think they may need to do something differently and they may get some training into how to work the room and how to craft the perfect elevator pitch. They do the rounds again and wait for the avalanche of new clients to contact them by email, phone, twitter, linkedin, facebook et al. Again this doesn’t work and a few more conclude that networking doesn’t work.

It doesn’t have to be that way! There are plenty of networking groups out there with experienced business people that will help you avoid the mistakes and make sure networking does work for you and your business. For 10 tips on learning from the mistakes others have made go the to full article on The BIG Mistake That Means Networking Doesn’t Work.

Tuesday, July 6, 2010

I was interrupted last week at a networking group meeting by someone who wanted to commend something to the group. Positive interruptions that enhance your message are always very welcome! He said it had been a really useful exercise to go through all the business cards he had collected over a couple years after reading the NRG workbook on developing your business networking plan.

He had separated these cards into the four categories suggested in the workbook. He uses Outlook to manage his contacts so he then created these categories in Outlook. He entered the details of any new contacts into his Outlook Address Book and then put all his contacts into those categories. This means he can now manage the interactions he has with his network more effectively. He can also see, at a glance, who he needs to focus his networking activity with.

Your Outer Network is made up of the people that you have met, but have no real connection with. You don't know what you could do for them, but it is useful to have a record of where and when you met. You paths may well cross again and you make that connection.

Your Resource Network is made up of the people that you have met and you know them well enough to recognise they have a particular skill or offer a valuable service. You don’t want to spend more time in developing a relationship with them, but they are useful to introduce to other contacts when appropriate.

Your Inner Network is made up of the people that you have met, have had some sort of follow up and are building a relationship. They share a similar target market to you and probably provide a service that is complementary to yours. We will call them your Inner Network & it is spending time with these people that starts to make networking really work. One really efficient way of doing this is to ensure you belong to the same networking groups.

Your Advocate Network is the small group of people you would go out of your way to find introductions and referrals for. The people you advocate are the people you have already developed a relationship with and you know, like, rate and trust them. It is spending time doing things for these people where you get the highest networking returns.

Successful networkers have up to 30 people in their Inner Network & about 6 Advocates. Do you know who these people are for you?